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Short Take: GoodNoise to acquire IUMA

Music download site GoodNoise said it will acquire the Internet Underground Music Archive (IUMA), a veteran music site that lets unsigned bands promote and sell their music online. IUMA, online since 1993, hosts more than 3,500 band sites, GoodNoise said. Following the all-stock deal, expected to close in June, IUMA will be a wholly owned subsidiary of GoodNoise, which soon will change its name to Emusic.com, the company said.

Music download site GoodNoise said it will acquire the Internet Underground Music Archive (IUMA), a veteran music site that lets unsigned bands promote and sell their music online. IUMA, online since 1993, hosts more than 3,500 band sites, GoodNoise said. Following the all-stock deal, expected to close in June, IUMA will be a wholly owned subsidiary of GoodNoise, which soon will change its name to Emusic.com, the company said.